Both JPMorgan and Access Midstream were on CalPERS’ internal “restricted company list,” which flags securities that can’t be routinely traded because at least one person at CalPERS has inside information about matters that could affect the companies’ stock price. Examples of such material non-public information include earnings estimates, significant changes in management or operations, and planned mergers or acquisitions.
via Securities and Exchange Commission looking into CalPERS stock purchases — The Sacramento Bee
